Hugh Ray, principal in McKool Smith's Houston and New York offices, will speak on Distressed Investing, which may never be the same after the Delaware Bankruptcy Court’s ruling In re: Washington Mutual which ruled that creditors as members of ad hoc committees can't appear in a case unless they reveal the details of their holdings and the extent of their other positions in the capital structure. The New York Courts are following the same path. Bankruptcy Courts in Texas seem to disagree. The Bankruptcy Rules Committee is considering even tougher disclosures for creditors. Rule 2019 seriously impacts investors’ ability to hide confidential positions they have in the debts and equity of Chapter 11 debtors. This session will examine the new cases, their history, and the future of this development on the rule as well as examine strategies distressed investors might use.
